Source: Home | Plug
As a long time e-commerce person in sneakers I’ve seen sites come and go. In the last few years the advent of the marketplace for sneakers has seen a series of extremely successful apps and websites (StockX and GOAT) have garnered considerable investments from notable people like Dan Gilbert, owner of the Cleveland Cavs, to a team that placed enough money into GOAT that the app, less than two years old, was able to buyout the original investors in Flight Club. There are millions flying around if you have the right platform and the proof of concept.
Enter Plug, a play on the obvious reference to the guy who can make things happen. In the sneaker world the “plug” is the guy that can get you a pair of kicks that are sold out or hard to find. “Plug” has become an aspirational goal for many although Kevin Gates “ran off on the plug,” lol. Seriously, the name “Plug” for an app is timely and it fits. I think it’s interesting that the logo avoids a connection to sneakers as it opens the door for the addition of other products.
What makes “Plug” different? According to the site they will have lower selling fees which is always welcomed. The answer on differentiation from the standards of GOAT and StockX are a long way from being realized as right now the site is in Beta so to be accepted you have to submit an e-mail to the company. A quick screenshot of the shop shows that they are launching with a few heavy hitters.
It’s always exciting to see a new player enter the arena. It’s an extremely tough market to play in, but sellers are looking for more opportunities. Right now I discovered “Plug” via LinkedIn. I hadn’t seen any information about the new site and it’s been live since January. That’s not a good thing. The amount of money needed for customer acquisition gives “Plug” immediate challenges right out of the box. It should be interesting to check in and see how the site is progressing. Use the source link to visit the site and read more:
Source: Home | Plug
Note: Update on the progression of the site:
We definitely have taken a “soft launch” approach, since our next round of Beta isn’t opening until July/August, so meanwhile the site is more of a landing page to answer a few questions people may have. As for differentiation from (Other Resale Sites), we are excited to announce we already have 3 authentication centers throughout the country, and are looking to add a couple more before launch. (Other sites) only recently opened… 2nd authentication center(s). We plan on using our more flexible model to deliver a faster delivery cycle to the customer, faster payouts, and lower fees.